Ashiana Housing Ltd has received a GST demand notice of ₹4,95,696 from tax authorities, which the company plans to contest through appropriate legal channels. The demand was issued by the Office of the Superintendent CGST Range – XXXVIII, Jaipur (South Central) under section 74 of the CGST Act 2017.

GST Demand Details

The GST demand pertains to alleged wrong availment of Input Tax Credit on units sold or supplied after the issuance of completion certificate for Ashiana Umang Phase IV project located in Jaipur. The total demand amount of ₹4,95,696 includes interest and penalty components as per the GST regulations.

Nature of Alleged Violation

The GST authorities have alleged that the company wrongly availed Input Tax Credit on units that were sold or supplied after the completion certificate was issued for the Ashiana Umang Phase IV project. This relates to the timing of Input Tax Credit claims in relation to project completion milestones under GST regulations.

Company's Response Strategy

Ashiana Housing has indicated that it will contest the GST demand order through the appropriate appellate process. The company's approach includes:

• Filing an appeal against the demand order
• Reviewing and reconciling company records
• Challenging the allegations through legal channels

Financial Impact Assessment

According to the company's disclosure under SEBI regulations, no significant impact on financial or operational performance has been observed at this stage. However, the company has stated that it is in the process of reviewing and reconciling its records to assess the complete monetary implications of the demand.

The company made this disclosure on April 01, 2026, in compliance with Regulation 30 of the SEBI (LODR) Regulations, ensuring transparency with stakeholders regarding regulatory developments that could potentially affect the company's operations.

Ashiana Housing has received a rectification order from the GST Department, Jaipur, providing relief on a tax demand under section 74 of the CGST Act 2017. The company informed stock exchanges on April 1, 2026, about this development under Regulation 30 of SEBI (LODR) Regulations.

GST Demand Resolution Details

The rectification order pertains to an original demand raised by the GST authorities for late payment of tax liability. The financial breakdown shows significant relief for the real estate developer:

The original order was issued by the Office of the Superintendent, CGST Range-XXXVIII, Jaipur (South Central). The Order-in-Original was dated March 30, 2026, and received by the company on April 1, 2026.

Regulatory Compliance and Impact

Ashiana Housing has clarified that since this is a rectification order where the GST Department has dropped the demand pertaining to interest on delayed payment of tax liability, no specific action is required from the company's side. The rectification order effectively resolves the matter in the company's favor.

Financial and Operational Assessment

The company has assessed that this rectification order will not have any significant impact on its financial or operational performance. However, Ashiana Housing has indicated that it is in the process of reviewing and reconciling its records concerning the monetary implications of this development.

The resolution of this GST matter removes a potential liability from the company's books, as the ₹2,69,465/- demand that was initially raised has been completely dropped by the authorities. This development demonstrates the company's proactive approach to regulatory compliance and its ability to successfully resolve tax-related matters through proper channels.